Apple Supplier Pegatron Invests Rs 1,000 Cr In Tamilnadu

Pegatron Corporation, a major supplier to tech giant Apple, has announced an investment of Rs 1,000 crore in Tamil Nadu. The investment is targeted at establishing a computing, communications, and consumer electronics manufacturing unit, bringing with it the promise of generating employment for approximately 8,000 individuals.

The Memorandum of Understanding (MoU) formalising this investment was exchanged at the Tamil Nadu Global Investors Meet 2024. The ceremony witnessed the presence of Union Minister of Commerce and Industry, Piyush Goyal, and Tamil Nadu Chief Minister, M.K. Stalin.

Pegatron, which entered the Indian market in 2021 under the production-linked incentive (PLI) scheme, initially invested Rs 1,100 crore in setting up its unit at Mahindra World City in Singaperumalkovil. The factory has been operational since September 2022.

Tamil Nadu has emerged as a hub for Apple’s supply chain, hosting major players like Foxconn, Pegatron, Tata Electronics Private Limited (TEPL) and Salcomp. The state’s conducive business environment and infrastructure have made it an attractive destination for global corporations looking to establish manufacturing operations in India.

At the Tamil Nadu Global Investors Meet 2024, several other companies also unveiled their investment plans in Tamil Nadu. Hyundai announced an investment of Rs 6,180 crore, TVS Group committed Rs 500 crore, Mitsubishi Electric pledged Rs 200 crore, JSW Renewables disclosed an investment of Rs 12,000 crore, First Solar committed Rs 2,500 crore and Tata Electronics announced an investment of Rs 12,082 crore.